Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.52), Zacks reports. Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The firm had revenue of $165.50 million for the quarter, compared to the consensus estimate of $157.20 million. During the same quarter in the previous year, the company posted $0.58 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. Phillips Edison & Company, Inc. updated its FY24 guidance to $2.40-$2.44 EPS and its FY 2024 guidance to 0.480-0.500 EPS.
Phillips Edison & Company, Inc. Stock Performance
NASDAQ PECO traded down $0.70 on Friday, hitting $36.31. The stock had a trading volume of 629,406 shares, compared to its average volume of 662,030. The firm has a 50-day moving average of $37.10 and a 200-day moving average of $34.46. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $39.08. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 78.93, a price-to-earnings-growth ratio of 3.49 and a beta of 0.57.
Phillips Edison & Company, Inc. Increases Dividend
The company also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be paid a dividend of $0.1025 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.23 annualized dividend and a yield of 3.39%. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.’s payout ratio is currently 267.39%.
Analyst Ratings Changes
Check Out Our Latest Analysis on PECO
About Phillips Edison & Company, Inc.
Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.
Further Reading
- Five stocks we like better than Phillips Edison & Company, Inc.
- What Makes a Stock a Good Dividend Stock?
- Real Estate Sector Outperforms: 3 Stocks to Gain Exposure
- Utilities Stocks Explained – How and Why to Invest in Utilities
- Lam Research Proves Analysts Wrong with a Strong Earnings Report
- 5 Top Rated Dividend Stocks to Consider
- PureCycle: Up 250% in 2024 – Is This Materials Stock Still a Buy?
Receive News & Ratings for Phillips Edison & Company Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips Edison & Company Inc. and related companies with MarketBeat.com's FREE daily email newsletter.